"Switching costs" are one of the barriers to entry in Porter's five forces model.

Name: "Switching costs" are one of the barriers to entry in Porter's five forces model.
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Question

Quizplus · Accepted Answer

Switching costs refer to the costs incurred by a customer when switching from one supplier to another. These costs can be monetary, time-related, or based on customer loyalty. High switching costs can make it difficult for new entrants to attract customers away from established competitors, thereby serving as a barrier to entry.

"Switching Costs" Are One of the Barriers to Entry in Porter's